SEC Charges Advisor in $3.9 Million Ponzi Scheme

On November 2,2018, the U.S. Securities and Exchange Commission charged a former registered representative and investment advisor with operating a long-running fraud and "Ponzi" scheme.  A Ponzi scheme, named after Charles Ponzi from the 1920s, is a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick … Continue reading SEC Charges Advisor in $3.9 Million Ponzi Scheme

Securities and Exchange Commission will Target Mutual Funds and ETFs in Exams

On November 8, 2018, the U.S. Securities and Exchange Commission announced a launching of a series of exam initiatives focused on mutual funds and exchange-traded funds (ETFs). The agency’s Office of Compliance Inspections and Examinations released a Risk Alert stating that the exams will focus on funds and/or advisors that fall into one or more … Continue reading Securities and Exchange Commission will Target Mutual Funds and ETFs in Exams

No Potholes for U.S. Economy–Expansion Indefinite–But No Fed Tightening

Fed Chairman Jerome Powell emphasized that the outlook for the U.S. economy is “remarkably positive” and mused that the expansion now underway can continue “effectively indefinitely.”  Speaking at the Atlantic Festival in Washington D.C., Powell said rates need to continue to move toward an estimated neutral level and even a bit beyond. Yields on U.S. … Continue reading No Potholes for U.S. Economy–Expansion Indefinite–But No Fed Tightening

Chapter 11 Plan Better Than Bids for Toys ‘R’ Us

The top lenders of Toys ‘R’ Us have decided to cancel the bankruptcy auction of its brand name and other intellectual property assets and instead plan to revive the Toys ‘R’ Us and Babies ‘R’ Us brand names, a court filing on Monday showed. Toys “R” Us had filed for Chapter 11 bankruptcy protection in … Continue reading Chapter 11 Plan Better Than Bids for Toys ‘R’ Us

Invest in IPO or ICO…Wait, What’s an ICO? Tatatu and Akon, Too?

The Initial Coin Offering (ICO) market could be forever changed.  This as a result of a court ruling in the case of U.S. V. Zaslavskiy, 17-cr-0647, a case handled by the U.S. District Court for the Eastern District of New York (Brooklyn).  In that case, the judge, US Federal Judge Raymond J. Dearie, ruled the billion dollar … Continue reading Invest in IPO or ICO…Wait, What’s an ICO? Tatatu and Akon, Too?

Beware of So-Called OTC ETFs Investing in Virtual Currencies

The U.S. Securities and Exchange Commission has announced the prevention of sale of two “funds” that promise to track the price of “cryptocurrencies”. Both funds, which trade in the U.S. only “over the counter” and “off exchange", are nevertheless listed on a Nasdaq, Inc. (NDAQ.O) exchange in Stockholm, Sweden.  In the U.S., “over-the-counter” (OTC) and … Continue reading Beware of So-Called OTC ETFs Investing in Virtual Currencies

SEC Wants to Make Private Investing More Attractive

  Public companies--those that have their shares of stock traded on public exchanges, such as NYSE or NASDAQ--are required to provide a lot of transparency to the investing public, which is thought, according to Congressional hearings in the wake of the stock market crash of 1929, to protect investors and prevent future market hysteria and … Continue reading SEC Wants to Make Private Investing More Attractive

Constitution Upheld: College Professors Can’t Keep Women Students from Defending Themselves Against Attackers.

Remember the old days when women could defend themselves, and did so using the Derringer?  It defies logic why anyone would attempt to prevent a woman from exercising this right.  One can only wonder if Mollie Tibbitts, the Iowa college student recently found murdered at the hands of an attacker, would still be alive if … Continue reading Constitution Upheld: College Professors Can’t Keep Women Students from Defending Themselves Against Attackers.

Starbucks Explained

Recently, companies around the world yielded to demands from China that they remove from their list of destinations Taiwan as an independent country.   They were, instead, told to refer to Taiwan as "China Taiwan" or "China Taiwan Region". For example, Air India has now removed all references to "Taiwan" from its official website. Read that … Continue reading Starbucks Explained

FINRA Combines Enforcement and Investigations in One

The Financial Industry Regulatory Authority (FINRA), the Self-Regulatory Organization that regulates the securities industry, said Thursday that it has completed integrating the self-regulator’s enforcement functions, and announced a new senior leadership team to lead the new structure. The consolidation, which began in July 2017 under FINRA360 along with the promotion of Susan Schroeder as head … Continue reading FINRA Combines Enforcement and Investigations in One